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All finance analysts1 fear the massive Japanese earthquake has increased the chances of fiscal2 crisis in the world's third largest economy and it could affect countries around the globe. While it may be several days or weeks before the costs of the disaster are clear, the area hit hardest hosts industrial zones with chemical and electronics plants. Japan is burdened by the industrialised world's biggest debt, which runs close to 200 per cent of gross domestic product.
We're turning to market numbers now, and Japan's earthquake has hit global markets. The earthquake struck just before the close of Tokyo stock trading, sending the benchmark Nikkei index tumbling 1.7 per cent to a five-week low. Other Asian stock markets reacted badly with Hong Kong's Hang Seng and South Korea's KOSPI both sliding. In London, the FTSE dropped at the open on Friday. The index was down 0.3 per cent or 15 points. And Wall Street's trade was also down - the Dow Jones lost 20 points, or 0.17 per cent before sliding further; the S&P500, NASDAQ composite also ticked down slightly. And the Australian market posted its biggest weekly loss in nine months. The All Ordinaries and the ASX200 both shed 1.2 per cent. The Australian dollar is managing to stay above 100 US cents.
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1 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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2 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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